In response to ZTE’s inclusion in the list of enforced persons by the court, ZTE responded that the matter was a normal commercial dispute between ZTE and the China Construction Fifth Bureau, and that it was not a breach of trust.
On December 25, the reporter learned from China's executive information disclosure network that the Shenzhen Intermediate People's Court filed a case on December 17, and ZTE Corporation was included in the list of executed persons with an execution target of 31,871,300 yuan.
According to Tianyue data, ZTE Corporation was established in November 1997 and the legal representative is Li Zixue. According to the company's official website, ZTE is the world's leading provider of integrated communication solutions. Founded in 1985, ZTE is a large-scale communications equipment company listed in Hong Kong and Shenzhen.
ZTE’s unaudited financial report for the third quarter of this year showed that revenue was approximately 19.332 billion yuan, down 14.34% year-on-year; net profit attributable to ordinary shareholders of listed companies was 564 million yuan, down 64.98% year-on-year. The profit was approximately RMB 120 million, a year-on-year increase of 130.95%.